GLOBAL PAYMENTS' CZECH SUBSIDIARY SIGNS PROCESSING AGREEMENT WITH RUSSIAN BANK.(Home Credit & Finance Bank)(Brief Article)

Global Payments Inc. announced late yesterday that its Prague, Czech Republic-based subsidiary, Muzo a.s., will provide card processing and issuing services for Home Credit & Finance Bank (HCFB) Russia, the second-largest consumer credit provider in Russia. The program will offer MasterCard International's PIN-based Maestro debit card. Muzo will provide authorization for ATM and point-of-sale transactions, and other processing services. The contract is for three years with Muzo earning a flat fee in addition to fees paid per-transaction and per-issued card, Petr Sedlacek, chairman and CEO of MUZO, tells CardLine from Prague. The Russian economy is growing, national debt is low, …